Global Hydrogen Market

Global Hydrogen Market Size, Share, Growth Analysis, By End-user(Ammonia, Refining), By Application(Petroleum Refining, Chemicals) - Industry Forecast 2023-2030


Report ID: SQMIG10A2019 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 65 | Figures: 75

Global Hydrogen Market Insights

Hydrogen Market size was valued at USD 174.24 Billion in 2021 and is poised to grow from USD 184 Billion in 2022 to USD 284.53 Billion by 2030, at a CAGR of 5.6% during the forecast period (2023-2030).

The global hydrogen market refers to the market for hydrogen gas, which is used as a fuel and a feedstock in various industries. Hydrogen is considered a clean and renewable energy source that can help reduce greenhouse gas emissions and address climate change. The purpose of the hydrogen market is to provide a sustainable and clean energy source for various industries and applications. The market aims to promote the adoption of hydrogen technologies and infrastructure, such as fuel cells, hydrogen refueling stations, and pipelines. The increasing focus on reducing greenhouse gas emissions, as well as the growing demand for cleaner and more efficient energy sources, are the major driving factors of the hydrogen market.

Government initiatives and investments in hydrogen infrastructure and technologies are expected to further drive the market growth. The high cost of production and transportation of hydrogen, as well as the lack of infrastructure and technological advancements, are some of the restraining factors for the hydrogen market. The low energy density of hydrogen compared to other fuels also presents a challenge for its adoption. The hydrogen market faces several challenges, including the high cost of production and transportation, the lack of infrastructure and technological advancements, and safety concerns related to the handling and storage of hydrogen. The hydrogen market presents several opportunities, such as the development of new and innovative technologies for hydrogen production, storage, and transportation. The increasing demand for hydrogen in various industries, such as transportation, energy, and chemicals, presents significant growth opportunities for the market.

US Hydrogen Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 174.24 Billion

Largest Segment

Ammonia

Fastest Growth

Ammonia

Growth Rate

5.6% CAGR

Global Hydrogen Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
Global Hydrogen Market Size By End User 2022-2030 ($ Bn)
Global Hydrogen Market Size By End User 2022-2030 (%)

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Global Hydrogen Market Segmental Analysis

The global hydrogen market is segmented on the basis of end-user, application, and region. Based on end-user, the market is segmented into ammonia, refining, methanol, fuel, and others. In terms of classification by application, the market is segmented into petroleum refining, chemicals, and others. Regionwise, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Hydrogen Market Analysis by end-user

The ammonia industry is the largest consumer of hydrogen, using it as a feedstock in the Haber-Bosch process to produce ammonia. The increasing demand for fertilizers and the growing population are expected to drive the demand for ammonia, thereby boosting the demand for hydrogen. The refining industry is another major consumer of hydrogen, using it in the hydrocracking process to produce cleaner fuels. The increasing demand for cleaner and more efficient fuels, as well as the stricter regulations on emissions, are expected to drive the demand for hydrogen in the refining industry. The methanol industry also uses hydrogen as a feedstock in the production process. The increasing demand for methanol in various applications, such as chemicals and fuels, is expected to drive the demand for hydrogen in the methanol industry. The fuel industry is a relatively new and growing consumer of hydrogen, with the development of fuel cell vehicles and other hydrogen-based transportation systems. The increasing focus on reducing greenhouse gas emissions and the growing demand for cleaner and more efficient transportation are expected to drive the demand for hydrogen as a fuel. Hydrogen is also used in various other industries, such as electronics, metals, and food processing. The increasing demand for clean and renewable energy sources in these industries is expected to drive the demand for hydrogen.

Hydrogen Market Analysis by Application

The petroleum refining industry is the largest application segment for hydrogen, accounting for the majority of the total hydrogen consumption. Hydrogen is used in refining to remove impurities, such as sulfur and nitrogen, from crude oil and produce cleaner fuels. The increasing demand for cleaner fuels and the stricter regulations on emissions are expected to drive the demand for hydrogen in the petroleum refining industry. The chemicals industry is another major application segment for hydrogen, using it as a feedstock in various chemical processes, such as ammonia production, methanol production, and hydrocracking.

The increasing demand for chemicals, particularly in developing regions, is expected to drive the demand for hydrogen in the chemicals industry. Hydrogen is also used in various other applications, such as food processing, electronics, and metals. In the food processing industry, hydrogen is used for hydrogenation, a process that converts liquid oils into solid fats. In the electronics industry, hydrogen is used for the production of silicon wafers. In the metals industry, hydrogen is used for the production of steel and other metals. The increasing demand for clean and renewable energy sources in these industries is expected to drive the demand for hydrogen.

Global Hydrogen Market Size By End User 2022(%), 2021 (%)

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Global Hydrogen Market Regional Insights

Asia-Pacific is the dominating region in the global hydrogen market, accounting for the majority of the total hydrogen consumption. The region is home to some of the largest hydrogen producers and consumers, such as China, Japan, and South Korea. The increasing demand for hydrogen in various industries, such as chemicals, refining, and transportation, is expected to drive the growth of the hydrogen market in the region. In addition, the region has set ambitious targets for reducing greenhouse gas emissions and promoting the use of clean energy sources, which is expected to further boost the demand for hydrogen.

North America is expected to be the fastest-growing region in the global hydrogen market. The region has a well-established hydrogen infrastructure and a strong focus on reducing greenhouse gas emissions, which is expected to drive the growth of the hydrogen market. In addition, the region has a growing demand for hydrogen in the transportation sector, particularly for fuel cell vehicles. The United States has set ambitious targets for the deployment of fuel cell vehicles and the development of hydrogen infrastructure, which is expected to further boost the demand for hydrogen in the region.

Global Hydrogen Market Size By Geography, 2022-2030, 2023-2030
  • Largest
  • Fastest

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Global Hydrogen Market Dynamics

Hydrogen Market Drivers

Increasing Demand for Clean Fuels

  • The increasing demand for cleaner fuels, particularly in the transportation sector, is expected to drive the demand for hydrogen. Fuel cell vehicles, which use hydrogen as a fuel, are becoming increasingly popular, particularly in developed regions such as North America and Europe.

Government Initiatives and Regulations

  • Governments around the world are implementing various initiatives and regulations to promote the use of clean and renewable energy sources, which is expected to drive the demand for hydrogen. For example, the European Union has set targets to reduce greenhouse gas emissions by 55% by 2030, which is expected to boost the demand for hydrogen in the region.

Hydrogen Market Restraints

High Cost of Production and Transportation

  • The high cost of producing and transporting hydrogen, particularly in regions where the infrastructure is not well-established, is a major restraint for the growth of the hydrogen market. Hydrogen production requires large amounts of energy, and currently, most of the world's hydrogen is produced using fossil fuels. This makes the production process expensive and not entirely sustainable. Transportation of hydrogen can also be expensive and challenging. Compression and liquefaction require significant energy, making the transportation process expensive. The transportation infrastructure for hydrogen is not well-established in many regions, adding to the cost and complexity of transporting hydrogen.

Safety Concerns

  • Hydrogen is highly flammable and requires special storage and handling measures, which can be a safety concern for some industries and consumers. This can be a significant concern for industries and consumers who use hydrogen as an energy source. The storage and handling of hydrogen require special measures, including the use of specialized tanks and pipelines. there is always a risk of accidental leakage, which can cause explosions or fires. The hydrogen industry is investing heavily in research and development to improve efficiency and reduce the cost of hydrogen production and transportation.

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Global Hydrogen Market Competitive Landscape

The global hydrogen market is highly competitive in nature, with a large number of players operating in the market. These companies are focused on various strategies such as mergers and acquisitions, partnerships and collaborations, and new product development to strengthen their market position. companies are investing in research and development to develop new technologies and products that are more efficient and cost-effective. The global hydrogen market is expected to witness intense competition among players in the coming years, as the demand for clean and sustainable energy sources continues to grow, and companies continue to focus on developing new technologies and expanding their market reach.

Hydrogen Market Top Player’s Company Profiles

  • Air Liquide (France)
  • Air Products and Chemicals Inc. (US)
  • Linde plc (UK)
  • Plug Power Inc. (US)
  • Nel ASA (Norway)
  • Ballard Power Systems Inc. (Canada)
  • Hydrogenics Corporation (Canada)
  • Showa Denko K.K. (Japan)
  • ITM Power plc (UK)
  • FuelCell Energy Inc. (US)
  • Mitsubishi Hitachi Power Systems Ltd. (Japan)
  • Toshiba Energy Systems & Solutions Corporation (Japan)
  • ENGIE (France)
  • Green Hydrogen Systems A/S (Denmark)
  • McPhy Energy S.A. (France)
  • Siemens Energy AG (Germany)
  • Cummins Inc. (US)
  • Hexagon Composites ASA (Norway)
  • Air Water Inc. (Japan)
  • Hydrogenics Europe N.V. (Belgium)

Hydrogen Market Recent Developments

  • In July 2021, Siemens Energy announced that it would acquire the electrolysis technology and hydrogen compressor business of Canada-based Ballard Power Systems, strengthening its position in the green hydrogen value chain.
  • In May 2021, Air Products and Chemicals Inc. announced that it would acquire a 50% stake in First Element Fuel Inc., a California-based retail hydrogen fueling station developer and operator.
  • In April 2021, Plug Power announced a joint venture with the French industrial gasses company Air Liquide to build and operate liquid hydrogen production facilities in the United States.
  • In March 2021, Hyundai Motor Company and Ineos signed a memorandum of understanding to explore opportunities for the production and supply of hydrogen, as well as the joint development of hydrogen-related applications and technologies.

Global Hydrogen Key Market Trends

  • Growing use of green hydrogen: green hydrogen is produced using renewable energy sources, such as wind and solar power, and has a significantly lower carbon footprint compared to other forms of hydrogen. The growing focus on reducing greenhouse gas emissions is expected to drive the demand for green hydrogen. For example, the European Union has set targets to produce at least 40 GW of hydrogen from renewable sources by 2030.
  • Increasing partnerships and collaborations: Companies in the hydrogen industry are increasingly forming partnerships and collaborations to develop new technologies and expand their market reach. For example, Air Liquide and Siemens Energy have formed a partnership to develop a large-scale electrolysis plant for the production of green hydrogen in Germany. Another example is the partnership between Hyundai and Cummins to develop fuel cell systems for commercial vehicles.

Global Hydrogen Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global hydrogen market analysis, the increasing demand for clean energy sources, as well as government initiatives to reduce carbon emissions are key factors boosting the market. The market can be analyzed based on various factors such as production method, end-user, application, and region. Based on end-user, the hydrogen market can be segmented into transportation, power generation, chemicals, and others. Transportation is expected to be the largest end-user segment, driven by the growing adoption of fuel cell electric vehicles (FCEVs) and the need to reduce carbon emissions from the transportation sector. Power generation is another significant end-user segment, as hydrogen can be used in fuel cells to generate electricity with high efficiency and low emissions. Based on application, the hydrogen market can be segmented into petroleum refining, chemicals, and others. The global hydrogen market is expected to experience significant growth over the next few years, driven by the increasing demand for clean energy and the growing recognition of hydrogen as a key element in the transition to a low-carbon economy.

Report Metric Details
Market size value in 2021 USD 174.24 Billion
Market size value in 2030 USD 284.53 Billion
Growth Rate 5.6%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • End-user
    • Ammonia, Refining, Methanol, Fuel, and Others
  • Application
    • Petroleum Refining, Chemicals, and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Air Liquide (France)
  • Air Products and Chemicals Inc. (US)
  • Linde plc (UK)
  • Plug Power Inc. (US)
  • Nel ASA (Norway)
  • Ballard Power Systems Inc. (Canada)
  • Hydrogenics Corporation (Canada)
  • Showa Denko K.K. (Japan)
  • ITM Power plc (UK)
  • FuelCell Energy Inc. (US)
  • Mitsubishi Hitachi Power Systems Ltd. (Japan)
  • Toshiba Energy Systems & Solutions Corporation (Japan)
  • ENGIE (France)
  • Green Hydrogen Systems A/S (Denmark)
  • McPhy Energy S.A. (France)
  • Siemens Energy AG (Germany)
  • Cummins Inc. (US)
  • Hexagon Composites ASA (Norway)
  • Air Water Inc. (Japan)
  • Hydrogenics Europe N.V. (Belgium)
Customization scope

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  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Hydrogen Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Hydrogen Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Hydrogen Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hydrogen Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Hydrogen Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Hydrogen Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Hydrogen Market size was valued at USD 174.24 Billion in 2021 and is poised to grow from USD 184 Billion in 2022 to USD 284.53 Billion by 2030, at a CAGR of 5.6% during the forecast period (2023-2030).

The global hydrogen market is highly competitive in nature, with a large number of players operating in the market. These companies are focused on various strategies such as mergers and acquisitions, partnerships and collaborations, and new product development to strengthen their market position. companies are investing in research and development to develop new technologies and products that are more efficient and cost-effective. The global hydrogen market is expected to witness intense competition among players in the coming years, as the demand for clean and sustainable energy sources continues to grow, and companies continue to focus on developing new technologies and expanding their market reach. 'Air Liquide (France)', 'Air Products and Chemicals Inc. (US)', 'Linde plc (UK)', 'Plug Power Inc. (US)', 'Nel ASA (Norway)', 'Ballard Power Systems Inc. (Canada)', 'Hydrogenics Corporation (Canada)', 'Showa Denko K.K. (Japan)', 'ITM Power plc (UK)', 'FuelCell Energy Inc. (US)', 'Mitsubishi Hitachi Power Systems Ltd. (Japan)', 'Toshiba Energy Systems & Solutions Corporation (Japan)', 'ENGIE (France)', 'Green Hydrogen Systems A/S (Denmark)', 'McPhy Energy S.A. (France)', 'Siemens Energy AG (Germany)', 'Cummins Inc. (US)', 'Hexagon Composites ASA (Norway)', 'Air Water Inc. (Japan)', 'Hydrogenics Europe N.V. (Belgium)'

The increasing demand for cleaner fuels, particularly in the transportation sector, is expected to drive the demand for hydrogen. Fuel cell vehicles, which use hydrogen as a fuel, are becoming increasingly popular, particularly in developed regions such as North America and Europe.

Growing use of green hydrogen: green hydrogen is produced using renewable energy sources, such as wind and solar power, and has a significantly lower carbon footprint compared to other forms of hydrogen. The growing focus on reducing greenhouse gas emissions is expected to drive the demand for green hydrogen. For example, the European Union has set targets to produce at least 40 GW of hydrogen from renewable sources by 2030.

Asia-Pacific is the dominating region in the global hydrogen market, accounting for the majority of the total hydrogen consumption. The region is home to some of the largest hydrogen producers and consumers, such as China, Japan, and South Korea. The increasing demand for hydrogen in various industries, such as chemicals, refining, and transportation, is expected to drive the growth of the hydrogen market in the region. In addition, the region has set ambitious targets for reducing greenhouse gas emissions and promoting the use of clean energy sources, which is expected to further boost the demand for hydrogen.

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Global Hydrogen Market

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